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Advising Bank Gospodarstwa Krajowego on EUR2.250 billion dual-tranche fixed rate guaranteed notes issuance

Advising Bank Gospodarstwa Krajowego on EUR2.250 billion dual-tranche fixed rate guaranteed notes issuance
Published Date
Mar 31 2025
We are pleased to announce that we have advised Bank Gospodarstwa Krajowego on the successful issuance of EUR2.250bn dual-tranche fixed rate guaranteed notes. This significant transaction includes EUR1.250bn 3.250% notes due 2030 and EUR1bn 4.250% notes due 2037, both guaranteed by the State Treasury of the Republic of Poland. The proceeds from this issuance will finance the Aid Fund and the National Road Fund.

The notes are listed on the regulated market of the Luxembourg Stock Exchange. Citi, Commerzbank, ING, J.P. Morgan, and Société Générale acted as joint lead managers for this issuance. Our dedicated A&O Shearman team, led by Łukasz Walczyna, with English law advice from Jamie Durham and supervision by Arkadiusz Pędzich, provided comprehensive legal support throughout this landmark transaction. 

Łukasz Walczyna, Counsel at the A&O Shearman Warsaw office, commented: "It has been a pleasure to assist Bank Gospodarstwa Krajowego in this landmark issuance. We congratulate everyone involved and eagerly anticipate our future collaborations."

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